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Impact of social inequality on society
What was the impact on john d rockefeller
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John Rockefeller, one of the richest men in history, the man who ruled the oil industry with an iron fist. Despite all the cruel things he’s done, he’s made up in glorious ones. Rockefeller felt that with all the money he’s got wasn’t meant for one man, so he donated it among to those who he felt needed it. To places he believed that it would benefit the world. The start of Rockefeller’s generous gifts of the wonderful thing called money was when he was just a boy. When Rockefeller was 16 he got his first job as being a bookkeeper at a brokerage of fresh produce. From the beginning of his job he donated 6% of his pay to charities, which was a mere 50 cents a day, soon tithing towards the Baptist church. Of course this was only the
beginning. Later on in his life, he became the most deep pocketed man in his time. Meaning he had the money to do what he pleased with, but how did he acquire such a fortune? The origins of his success started in 1870, when he started the corporation known as The Standard Oil Company of Ohio. Rockefeller built his empire off of this by using rebates and discounts in his favor. Years after he claimed 90% of the world's oil industry and his corporation changed the name to The Standard Oil Company. Rockefeller being the really religious person he was, he believed in Baptism. He believed that it was god who made him wealthy. And in his way of thanks and gratitude, he became the most generous donor to the northern Baptist conventions. But his charitable actions didn’t stop there. He believed he could help the world with his money, by distinguishing it with investments into good causes. One of the first things Rockefeller felt the need to enhance was education. He did so by creating a Baptist university, by partnering up with William Harper to establish the University of Chicago. Rockefeller’s first contribution to the effort was a total of 600,000 dollars. However that was only the beginning of his input into the University and in time gave it 35 million in all.
It's said that before John D. Rockefeller died, "he gave away about $550,000,000 to charity, more than any other American before him had ever possessed" (98). His money went to schools, churches and also "paid teams of scientists who found cures for yellow fever, meningitis, and hookworm"(97).
Rockefeller was the co-founder of the stand Oil Company. His wealth grew and became the world’s richest man. By the early 1880s, he dominated the oil business with his Standard Oil Company, in which he accounted thirty percent of. In the overall U.S. refineries and pipelines, his company accounted for around ninety percent. John D. Rockefeller was also a major philanthropist.
Matthew Josephson agreed that Rockefeller was indeed a "robber baron". In the book Taking Sides, he claims that Rockefeller was a deceptive and conspiratorial businessman, whose fortune was built by secret agreements and wrung concessions from America's leading railroad companies (Taking Sides 25). When John D. Rockefeller merged with the railroad companies, he had gained control of a strategic transportation route that no other companies would be able to use. Rockefeller would then be able to force the hand on the railroads and was granted a rebate on his shipments of oil. This was a kind of secret agreement between the two industries.
Many people consider Rockefeller a robber of industry because of his forcible ways of gaining his monopolies. Rockefeller was fond of buying out small and large competitors. If the competitors refused to sell they often found Rockefeller cutting the prices of his Standard Oil or in the worst cases, their factories mysteriously blowing up. Rockefeller was obsessed with controlling the oil market and used many of undesirable tactics to flush his competitors out of the market. Rockefeller was also a master of the rebate game. He was one of the most dominant controllers of the railroads. He was so good at the rebate that at some times he skillfully commanded the rail road to pay rebates to his standard oil company on the traffic of other competitors. He was able to do this because his oil traffic was so high that he could make or break a section of a railroad a railroad company by simply not running...
Andrew Carnegie and John D. Rockefeller: Captains of industry, or robber barons? True, Andrew Carnegie and John D Rockefeller may have been the most influential businessmen of the 19th century, but was the way they conducted business proper? To fully answer this question, we must look at the following: First understand how Andrew Carnegie and John D. Rockefeller changed the market of their industries. Second, look at the similarities and differences in how both men achieved dominance.
John Rockefeller was born July 8th, 1839, the second of six children. He took a business course at Folsom Mercantile College in 1855. He was employed as an assistant bookkeeper by Hewitt and Turtle. He was paid only $50 for 3 months of work. Moving up to a cashier he made $25 a month.
Andrew Carnegie, a robber barron that took advantage of his poor employees and his relentless competition, his personal intentions and innovations in the steel industry and philanthropic distributions positively changed America's society and views of education. Early 19th century, the American industrialist of the time, we're gathering good fortunes through Carnegie's ideas and initiatives. This man started out onto the road to wealth and success, starting from rags to the riches and earned the reputation he brought among himself, bringing him into American history. For those who exploited others on the road to wealth were automatically labeled as “robber-barrons" i.e. John D. Rockefeller, Ph.D. Nevertheless, those whose personal success positively impacted the United States, earning the title of the" captains of industry" surprisingly Andrew Carnegie happened to do both.
A penny saved may be a penny earned, just as a penny spent may begin to better the world. Andrew Carnegie, a man known for his wealth, certainly knew the value of a dollar. His successful business ventures in the railroad industry, steel business, and in communications earned him his multimillion-dollar fortune. Much the opposite of greedy, Carnegie made sure he had what he needed to live a comfortable life, and put what remained of his fortune toward assistance for the general public and the betterment of their communities. He stressed the idea that generosity is superior to arrogance. Carnegie believes that for the wealthy to be generous to their community, rather than live an ostentatious lifestyle proves that they are truly rich in wealth and in heart. He also emphasized that money is most powerful in the hands of the earner, and not anyone else. In his retirement, Carnegie not only spent a great deal of time enriching his life by giving back; but also often wrote about business, money, and his stance on the importance of world peace. His essay “Wealth” presents what he believes are three common ways in which the wealthy typically distribute their money throughout their life and after death. Throughout his essay “Wealth”, Andrew Carnegie appeals to logos as he defines “rich” as having a great deal of wealth not only in materialistic terms, but also in leading an active philanthropic lifestyle. He solidifies this definition in his appeals to ethos and pathos with an emphasis on the rewards of philanthropy to the mind and body.
Leaders such as Carnegie, Rockefeller, Morgan, and Ford were all philanthropic and gave away their money to those in need. For instance, Andrew Carnegie had given a total of over $350 million in his lifetime and had centered his philanthropy on education and the quest for world peace. Carnegie built libraries mainly because he wanted to promote self-education and that he wanted everyone to have the access to books. He founded Carnegie University. He had always thought that “The rich have a moral obligation to give away their fortunes.” John D. Rockefeller donated over $550 million in his lifetime. Rockefeller built the University of Chicago and then founded Rockefeller University. The Rockefeller Foundation was his last charitable foundation and he had such an abundant amount of money that the foundation is still working “to promote the well-being of mankind throughout the world.” J.P. Morgan was an equally giving philanthropist after he retired from banking. He had become the president of the Metropolitan Museum of Art while he was also a trustee (lead donor, vice president, treasurer, and finance committee chairman). His love for the natural sciences gave way to the American Museum of Natural History. Morgan was also a part of the Episcopal Church which he had devoted a great deal of time to. Henry Ford
To describe John D. Rockefeller in one word would be an extremely difficult, if not impossible thing to do. Rockefeller was known by so many things in his time and still today; a captain of industry who revolutionised the American economy with new business practices and keen management of what he controlled, a robber baron who lied and cheated his way to the top with back room dealings and taking advantage of the most disadvantaged of people. In his early life, Rockefeller grew up in Richmond, New York with his two brothers and two sisters about 20 years before the start of the Civil War as the child of Eliza Davison and William Avery Rockefeller. His father was con artist who spent most of John’s life traveling selling his various elixirs and his mother was a devout Baptist who John said shaped his life and most of his religious views for the rest of his life. Towards the end of his life, Rockefeller had built up a beyond substantial fortune but, seeing as how he was now retired from the oil industry and had no desire to invest into a new business, he decided to follow Andrew Carnegie's Gospel of Wealth by donating the bulk of his wealth to charity. John D. Rockefeller was truly a man who was almost undefinable despite the simple black and white labels that most people and historians have pinned upon him, as we examine his life it can be determined that Rockefeller was neither an evil man nor a good one but someone who lived his life in the grey.
This statement is true, but the money that sustained the philanthropic ways of the Industrialists was obtained in a way exemplify the qualities of a Robber Baron. A list of Rockefeller's major donations added up to about $500,000,000. While this money went charities and hospitals, the money was made from unethical business practices and the undermining of employees. The Saturday Globe’s political cartoon of Carnegie shows him cutting wages and giving away libraries and money. Industrialists took money that went from their workers away to practice philanthropy. The money might have gone to great causes, but the way it was obtained is characteristic of Robber Barons. Andrew Carnegie's essay, “The Gospel of Wealth” he describes the role of the wealthy in the community. Carnegie class the millionaire a “trust for the poor” and states that the wealthy know how to best invest n the community. This role taken on by Carnegie and other wealthy Americans of the late 19th century is reminiscent of that of an oligarchy, where a small group has control of the community. The oligarchical position of the wealthy in Carnegie's essay is against the American values of freedom and individuality, and very discriminatory towards the
John D. Rockefeller was born on July 8, 1839 in Rickford, New York. He grew up in a very poor family. His father was William Avery Rockefeller. He claimed to be a doctor, who for $25 would cure various diseases. His mother was Eliza Davison Rockefeller. She was the role model who taught Rockefeller his values and morals (Poole). John Rockefeller was the second child. Altogether he had five brothers and sisters (Outman 139). As a child he was very business smart. At the young age of 12 he loaned $50 to a famer. He charged a 7% interest. When he was older he said this about the business deal, “The impression was gaining ground with me that it was a good thing to let money be my servant and not make myself a slave to money” (Poole).
People like Andrew Carnegie, John D. Rockefeller, and J.P. Morgan are men who possessed the intellect, the foresight, and most importantly the work ethic to become powerful industrialists. These men displayed their work ethic to the country by being ruthless and tireless. They started something so important that a hundred years later it is still making a huge contribution to our country (Maury Klein pg. 32). What they started was the industrial revolution. Today our country is the most powerful in the world because of our great wealth. This wealth comes from the strength of our industry. “If thou does not sow, thou does not reap”(Hofstadter Recon.-Present Day pg.79). Carnegie, Rockefeller, and Morgan are the epitome of this statement.
John D. Rockefeller, born on July 8, 1839, has had a huge impact on the course of American history, his reputation spans from being a ruthless businessperson to a thoughtful philanthropist (Tarbell 41). He came from a family with not much and lived the American dream, rising to success through his own wit and cunning, riding on the backs of none. His legacy is huge, amassing the greatest private wealth of any American in history. Rockefeller’s influence on our country has been both a positive and a negative one, he donated huge sums of money to various public institutions and revolutionized the petroleum industry. Along with all the positives to the country, Rockefeller also had many negative affects as well, including, by gaining his riches by means of a monopoly, often using illegal methods, by giving others a reason to frown upon capitalism, and by hurting smaller businesses.
finding new ways to drill for oil and also refine it more efficiently to ensure that